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PBorgstede91

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Help paying off old collection accounts
I have a terrible credit score(in the 400's), I'm young(23) and want to resolve my early mistakes I have made. I have already contacted the student loans and have been approved for a deferment. However there are other accounts I would like to start to make payments to. I've moved a lot recently and have no letters coming from them, how do I make a payment towards my collections? I have 7 accounts in collections, ones all the way from 2011, and some medical bills. Please help. I want to be able to buy a house before I am 30.

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For the non-student loan collections, it is best not to enter any payment arrangements with debt collectors, they will set you up with a bad deal and if you fail to make a payment it can restart the statute of limitations for you to be sued for the debt. Find out what the Statute of Limitations is in your state to be sued by a debt collector to find out where you stand before you proceed. When dealing with collection companies it is always best to be in position to pay the full amount before you begin any negotiations. You always want to try to get a Pay For Delete agreement with them before paying. Do some research on PAY FOR DELETE to educate yourself before you proceed any further. Also in some cases you can contact the original creditor and ask them to pull the derogatory account back from the debt collector in exchange for your payment. Be aware that simply paying a collection does not remove it or remove the damage from it, it only minimizes the damage. I repeat, do your best to not get involved with any payment plans with a debt collector.

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Paying Off Collections

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I recently had the same predicament. I called directly to the collection agency in which my debt was transferred. 

Before I agreed to pay off the entire debt, I requested a paid-in-full letter.

Some collection agenncies did send the requested letter, while I am still waiting for the others.

The debts continues to display on my credit report and I am not exactly how sure long they will be there, but some of the debts are completely paid off.

Hope this helps.

ladeep

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paying off collections

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Where can i go to pay off my debt if it is in collections?

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